Latvia: Industrial output drops at sharpest rate since May 2023 in April
Industrial output sank 7.8% in year-on-year terms in April, which contrasted March’s 0.5% increase. April’s figure marked the worst reading since May 2023. The notable deterioration largely reflected drops in manufacturing and electricity and gas supply output.
On a seasonally adjusted monthly basis, factory output fell at a more pronounced rate of 4.9% in April (March: -0.7% mom), the worst result since August 2023. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.8%, down from March’s minus 3.2% reading.